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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Distribution centers
22201 Telegraph Rd Southfield, MI 48033-4221
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0069699
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1966
Total area
12,000 SF
Lot
0.57 ac (25,003 SF)
Zoning code
I-1
APN
76-24-32-228-015
UPID
US43-0069699
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$899k
Blend (final)
Blend
$685k
Owner & transaction history
Lear Corp · 11 yrs held
Lear Corp
since 2014
4 recorded transactions
Zoning & alternative use
I-1 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+21.9%
Industrial (general)
$970,000
+6.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$915,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,115,000
Change: +22% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$970,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$685k
Range $617k – $754k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$57 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$15,154
Tax year 2022
Assessed value
$263,320
Assessed 2022
Previous assessed
$263,320
+0.0% YoY
Effective rate
5.75%
On assessed value
Assessed land
$21,880
Assessed improvement
$241,440
Land market value
$43,760
Improvement market value
$482,880
Total market value
$526,640
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
12,000 SF
Lot
0.57 ac (25,003 SF)
Zoning code
I-1
APN
76-24-32-228-015
UPID
US43-0069699
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Southfield, MI
Zoning I-1 · permitted uses
I-1 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$915,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$970,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Lear Corp
Entity
Free & Clear · 11 yrs held
Mailing address
21557 TELEGRAPH RD, SOUTHFIELD, MI 48033-4248
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2014
—
Lear Corp
Cmp Properties LLC
Grant Deed
—
Sep 2, 2003
$582,000
Cmp Properties LLC
Hagopian,tr
Grant Deed
$46,000 · Comerica Bank
—
—
Hagopian Trust
—
Deed Of Trust
related
$125,000 · Comerica Bank
—
—
Hagopian Trust
—
Deed Of Trust
related
$400,000 · Comerica Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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